Thursday, 2 October 2014
Last updated 9 min ago
Aug 3 2011 | 10:25am ET
A veteran fraudster may have adopted a new name and a new hometown, but was up to his old tricks with a hedge fund scam, prosecutors say.
Scott Lindemann has been charged with defrauding at least 25 investors of $2 million. But the man listed as Lindemann in the indictment may, in fact, be Scott Yermish, who fled Maryland more than 10 years ago after first being convicted of fraud—and spending more than a year in jail for it—and then theft.
Yermish allegedly settled in El Paso, Texas, after leaving Maryland without finishing his probated sentence on the theft conviction. According to prosecutors, he set up a Ponzi scheme with his hedge fund there.
"This was a very quick investigation," Erik Vasys, a spokesman for the Federal Bureau of Investigation, told the San Antonio Express-News. "From the time we received the complaint, the subject was arrested in El Paso within seven days."
"We wish all investigations could have this quick a turnaround in order to protect future and potential victims."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...